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Jan 1, 2013
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it's not a good fiscal cliff deal if it give morse tax cuts to 2% and sets the stage for, in his words, quote, hostage-taking. he is voicing the concern that because the taxes only apply or go up on those making $400,000 or more and $450,000 if you're a couple, that essentially it's not hitting enough people. and he is voicing the concern that there might be deep cuts. so there is some pressure coming from the left for democrats to not necessarily accept the deal that is on the table. now, we saw president obama come out earlier today and talk about the fact that look, this isn't a perfect deal. this represents compromise on all sides. part of the reason you saw president obama come out today is not only to pressure republicans, but also to pressure democrats to get the deal done before this midnight deadline that is now so close and that is fast approaching. so there is some opposition that is being voiced from the left. could this impact the decision of some senate democrats? we'll have to wait and see, certainly. but, of course, when these deals come together, there are a lot of dis
it's not a good fiscal cliff deal if it give morse tax cuts to 2% and sets the stage for, in his words, quote, hostage-taking. he is voicing the concern that because the taxes only apply or go up on those making $400,000 or more and $450,000 if you're a couple, that essentially it's not hitting enough people. and he is voicing the concern that there might be deep cuts. so there is some pressure coming from the left for democrats to not necessarily accept the deal that is on the table. now, we...
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Dec 27, 2012
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of the looming fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many more times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and, in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us going until february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on the staff level. and they won't say whether or not the two men actually spoke. >> contact. hazahs all around. we heard a lot about taxes that w
of the looming fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many more times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and, in fact, the treasury department...
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Dec 24, 2012
12/12
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>> the day before christmas, of course, still no fiscal cliff resolution. the $500 billion in spending cuts and tax increases start on january 1st unless the white house and congress reach some sort of agreement. we're joined by former pennsylvania governor ed rendell, co-chair of the campaign to fix the debt. and a cnbc contributor. governor, happy holidays. good morning to you. >> good morning, guys. >> so we're sitting here wondering what can be done in the next seven days. even in your role, if you're having to reset expectations. >> sure. i think it's fair to say the campaign is disappointed. we're not going to -- unless lightning strikes, we're not going to get a big deal. we're going to get something that avoid the cliff. kicks the can down the road on the serious issues. the serious issues, the can gets kicked into the debt ceiling. president says he's not going to deal with the debt ceiling. who knows what's going to happen at that point. i think we blew an opportunity in the last seven weeks to really sit down, do something good for the country, d
>> the day before christmas, of course, still no fiscal cliff resolution. the $500 billion in spending cuts and tax increases start on january 1st unless the white house and congress reach some sort of agreement. we're joined by former pennsylvania governor ed rendell, co-chair of the campaign to fix the debt. and a cnbc contributor. governor, happy holidays. good morning to you. >> good morning, guys. >> so we're sitting here wondering what can be done in the next seven days....
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we'll talk about the fiscal cliff to senator dick durbin and senator tom coburn on face the nation. >> osgood: next week here on sunday morning, a conversation with general stanley mcchrystal. and we catch up with actress laura durn. my doctor diagnosed it as fibromyalgia, thought to be the result of overactive nerves that cause chronic widespread pain. lyrica is believed to calm these nerves. i learned lyrica can provide significant relief from fibromyalgia pain. and for some people, it can work in as early as the first week of treatment. so now i can do more of the things that i enjoy. lyrica is not for everyone. lyrica may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior, or any swelling or affected breathing or skin, or changes in eyesight, including blurry vision or muscle pain with fever or tired feeling. common side effects are dizziness, sleepiness, weight gain, and swelling of hands, legs and feet. don't drink alcohol while taking lyrica. don't d
we'll talk about the fiscal cliff to senator dick durbin and senator tom coburn on face the nation. >> osgood: next week here on sunday morning, a conversation with general stanley mcchrystal. and we catch up with actress laura durn. my doctor diagnosed it as fibromyalgia, thought to be the result of overactive nerves that cause chronic widespread pain. lyrica is believed to calm these nerves. i learned lyrica can provide significant relief from fibromyalgia pain. and for some people, it...
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Dec 27, 2012
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short their holiday vacations to work out a last-minute deal to avoid the "fiscal cliff." they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the m
short their holiday vacations to work out a last-minute deal to avoid the "fiscal cliff." they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to...
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if we go over that fiscal cliff, that triggers fears of automatic spending cuts, and we are just looking at the defense piece today. the pentagon will face a cut of $492 billion. that is about a half trillion dollars over nine years. that works out to about a 55 billion-dollar cut per year, starting next year, 2013. defense analysts say this on top of hundreds of additional cuts already in place for defense will be devastating to the military. >> it is going to affect the operational force that is its livelihood to get it equipment and not just the force in afghanistan that is being reduced. it would impact the training as well. reporter: there is a large defense industry will also be hit. private companies may not get government contracts to keep them in business. >> severe budget cuts could literally put national security at risk if the companies that make the f-35 fighter jet or nuclear submarines or artillery pieces don't have the money and have to lay off work force and close facilities. reporter: jim moran said his district, right outside of washington, home to many who work in the
if we go over that fiscal cliff, that triggers fears of automatic spending cuts, and we are just looking at the defense piece today. the pentagon will face a cut of $492 billion. that is about a half trillion dollars over nine years. that works out to about a 55 billion-dollar cut per year, starting next year, 2013. defense analysts say this on top of hundreds of additional cuts already in place for defense will be devastating to the military. >> it is going to affect the operational...
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Jan 1, 2013
01/13
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cliff. live in washington, d.c. with what just happened. >> reporter: we are waiting for the vice president to arrive on capitol hill. this is his chance to sell the deal to democrats. there is no vote planned on the floor, though one could come at any time after democrats meet. president obama and leaders say they are close to a deal but it is on a smaller scale. a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on finding smarter ways to cut spending. but let's not let that hold up perecing americans -- protecting americas. >> reporter: here is where they have been struggling, automatic spending cuts to the trillion dollars mark. it would effect the defense department and social programs. >> wee using -- we are using an ax instead of a scalp. >> reporter: even if there is a vote tonight in the senate the house still has toapprove something and they have -- to approve something and they have already gone home. they will be back
cliff. live in washington, d.c. with what just happened. >> reporter: we are waiting for the vice president to arrive on capitol hill. this is his chance to sell the deal to democrats. there is no vote planned on the floor, though one could come at any time after democrats meet. president obama and leaders say they are close to a deal but it is on a smaller scale. a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on...
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Jan 1, 2013
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that make up the fiscal cliff. the vote was an overwhelming 89- 8. a house vote is expected tomorrow. >>> meanwhile, back on the west coast, here's a live look at the embarcadero. san francisco now 45 minutes away from the year 2013. tonight, up to a quarter of a million people are expected for the midnight fireworks show. many of them staked out their spots hours ago and they are hanging around in spite of temperatures plummeting into the 40's now. >>> every year brings new changes. some good, some bad, and some less. less change in your pocket anyway. mike sugerman says get ready to pay more for everything, starting tomorrow. >> reporter: the city of el cerrito, where ups notices gather, because no one is there to collect them. it has the dubious distinction of having the highest sales tax in california. >> it's 5 cents. it adds up. i'm only 21, and i spend money like it's nothing. >> reporter: now, when she spends money like it's nothing, she's going to spend an extra quarter of a cent every time she spends $1.
that make up the fiscal cliff. the vote was an overwhelming 89- 8. a house vote is expected tomorrow. >>> meanwhile, back on the west coast, here's a live look at the embarcadero. san francisco now 45 minutes away from the year 2013. tonight, up to a quarter of a million people are expected for the midnight fireworks show. many of them staked out their spots hours ago and they are hanging around in spite of temperatures plummeting into the 40's now. >>> every year brings new...
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Dec 28, 2012
12/12
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cliff of tax hikes and spending cuts. the house planned to reconvene on sunday evening. a christmas season storm rolled through the northeast and new england, as the death toll climbed to 16. and lisa jackson announced she's stepping down as administrator of the environmental protection agency. and online, we've got a unique year-in-review of sorts. kwame holman has more. >> holman: science correspondent miles o'brien has had a most interesting 2012. he's crawled in sewage, cuddled with dolphins and played guinea pig to lots of experiments. watch some of the best outtakes of miles' science stories on the rundown. and we round up the most important lessons we've learned about helping kids stay in school from our series, american graduate. all that and more is on our web site newshour.pbs.org. margaret? >> warner: and that's the "newshour" for tonight. i'm margaret warner. >> brown: and i'm jeffrey brown. we'll see you online and again here tomorrow evening with mark shields and david brooks among others. thank you and good
cliff of tax hikes and spending cuts. the house planned to reconvene on sunday evening. a christmas season storm rolled through the northeast and new england, as the death toll climbed to 16. and lisa jackson announced she's stepping down as administrator of the environmental protection agency. and online, we've got a unique year-in-review of sorts. kwame holman has more. >> holman: science correspondent miles o'brien has had a most interesting 2012. he's crawled in sewage, cuddled with...
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Dec 31, 2012
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crucial meetings happening this morning to keep the country from going over that fiscal cliff. >>> big break in mysterious murder of a south bay millionaire. >>> health care for secretary of state clinton. new d ñ this december 31st, new year's eve, the last day of 2012, we are starting out you can see in this live picture from the embarcadero looking across the bay, it is a frosty but clear and dry start just looking at that you know tv set the picture, you can probably tell the chill that is out there. thanks for joining us i'm kristen sze >>> and i'm katie marzullo in for eric thomas. we'll hand it over to mike. >>> issue out there, black ice on san pablo dam road near inspiration point may have caused accident. not only frosty conditions but the possibility of black ice this will happen again tomorrow morning coolest morning will be wednesday something to think about. here's a look at live doppler, high clouds have moved on, hitting our coldest temperatures of the morning now, that means 30s in a lot of areas around the bay to 44 in san francisco, mid to upper 40s at noon, low! 50
crucial meetings happening this morning to keep the country from going over that fiscal cliff. >>> big break in mysterious murder of a south bay millionaire. >>> health care for secretary of state clinton. new d ñ this december 31st, new year's eve, the last day of 2012, we are starting out you can see in this live picture from the embarcadero looking across the bay, it is a frosty but clear and dry start just looking at that you know tv set the picture, you can probably tell...
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. >> the country is inching closer to falling off the so-called "fiscal cliff" -- a series of tax hikes and spending cuts set to take effect in six days. and there still seems to be no signs of compromise between congress president obama is cutting his holiday vacation in hawaii short. and will return to washington tomorrow. house and senate members are expected to reconvene tomorrow as well. without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a maximum sentence of 20 years in prison. no court dates have been set. >> right now parts of the
. >> the country is inching closer to falling off the so-called "fiscal cliff" -- a series of tax hikes and spending cuts set to take effect in six days. and there still seems to be no signs of compromise between congress president obama is cutting his holiday vacation in hawaii short. and will return to washington tomorrow. house and senate members are expected to reconvene tomorrow as well. without a budget agreement, automatic tax increases for everyone and deep spending cuts...
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it's just 14.5 hours from that big deadline for the nation's lawmakers to avoid the dreaded "fiscal cliff." we have a live picture from the u.s. capital where the house just reconvened just a short tim ago. a source telling the "associated press" the democrats have offered to extend tax cuts for families making up to $450,000 a year and individuals that are making $400,000 a year. the president originally wanted the tax cuts to be extended only for families making up to $250,000 a year. for more on the down-to-the wire talks here's andrew spencer. >> if there is an ultimate compromise, there will be parts of it that i find disgusting and reprehensible which i may have to swallow in the name of compromise. >> reporter: a rare sunday session on capitol hill. >> senate will come to order. >> reporter: as lawmakers work on avoiding the so-called "fiscal cliff." talks briefly hit a, quote, major setback on sunday over social security benefits according to a democratic source. but both sides agree to push forward. >> i want everyone to know i'm willing to get this done, but i need a dance partn
it's just 14.5 hours from that big deadline for the nation's lawmakers to avoid the dreaded "fiscal cliff." we have a live picture from the u.s. capital where the house just reconvened just a short tim ago. a source telling the "associated press" the democrats have offered to extend tax cuts for families making up to $450,000 a year and individuals that are making $400,000 a year. the president originally wanted the tax cuts to be extended only for families making up to...
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Dec 31, 2012
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but this sequester is, you know, it's a big part of the fiscal cliff. monetarily it's not quite half of it. it's worth $110 billion, and those spending cuts go into effect tonight. it's unclear if they are going to solve that part of it. >> woodruff: but todd s there, on the tax side, has there been agreement there, at least, on the senate side. because as we just reported some democrats say they don't like what they see. >> well, they don't need everybody. keep in mind, you-- what you need in the senate usually is 51 votes. we've gotten into this environment here where we assume that everything needs 60 votes. it doesn't have to be that way. you heard from senator harkin there, he and a bunch of other senate lib rarblingts shelton white house, al franken, jay rockefeller, other, huddled in harry reid's office earlier today. i was standing outside that room when they came out. they were tight-lipped. they were grim. they went into a side meeting all their own to try and decide what to do. they weren't talking when they came out. what you are looking for
but this sequester is, you know, it's a big part of the fiscal cliff. monetarily it's not quite half of it. it's worth $110 billion, and those spending cuts go into effect tonight. it's unclear if they are going to solve that part of it. >> woodruff: but todd s there, on the tax side, has there been agreement there, at least, on the senate side. because as we just reported some democrats say they don't like what they see. >> well, they don't need everybody. keep in mind, you-- what...
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. >> woodruff: this turned out to be a long day of waiting for final action on the "fiscal cliff" bill that cleared the senate early today. in the house, the measure ran into republican demands for more spending cuts, and its prospects for passage there dimmed. congress began the new year having missed its deadline to keep tax cuts from rising back to 1990's levels for most americans. and to prevent across-the-board spending cuts. instead, house republicans and democrats spent much of the day mulling a bill that cleared the senate shortly before 2:00 a.m. >> the yeah's are 89. the nays are 8. 60-vote threshold having been achieved the bill as amended is passed. >> woodruff: the senate bill makes permanent the bush era tax cuts for 99% of families, those with incomes under $450,000 a year. anything over that amount would be taxed at a rate of 39.6% up from the current 35. the agreement would raise the estate tax on large estates to 40%. but the payroll tax cut of the last two years would expire. the bill also extends unemployment benefits for a year and it stops a cut in medicare paymen
. >> woodruff: this turned out to be a long day of waiting for final action on the "fiscal cliff" bill that cleared the senate early today. in the house, the measure ran into republican demands for more spending cuts, and its prospects for passage there dimmed. congress began the new year having missed its deadline to keep tax cuts from rising back to 1990's levels for most americans. and to prevent across-the-board spending cuts. instead, house republicans and democrats spent...
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the only way to fix that is go over the fiscal cliff 'cause clearly democrats don't want to cut spending. they'll have to be forced into that and the only way that happens is hit the sequestration, the things that the fiscal cliff will bring of the that's why. i'll take the medicine, the pain now for a healthier economy going forward. >> kelly: there are a lot of economists who agree because they're saying if we go through this, it will be pain for everybody, 2,000, $4,000 added to our tax for the next year or so. and potentially, after that we will rebound and all those automatic spending cuts will go into effect. >> juliet: we've been following this drama involving hobby lobby. the company plans to defy a federal mandate that came out. it required it to offer the morning after pill. and hobby lobby, the owners of the company say, but they don't want to do that. it defies what they believe. they're going to be defying this order. they're going to risk fines of up to $1.3 million per day because they said on principle, we can not do this. >> kelly: here is the reason why. they're a faith
the only way to fix that is go over the fiscal cliff 'cause clearly democrats don't want to cut spending. they'll have to be forced into that and the only way that happens is hit the sequestration, the things that the fiscal cliff will bring of the that's why. i'll take the medicine, the pain now for a healthier economy going forward. >> kelly: there are a lot of economists who agree because they're saying if we go through this, it will be pain for everybody, 2,000, $4,000 added to our...
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Dec 26, 2012
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. >>> president obama is cutting his hawaiian vacation short to get back to fiscal cliff talks in washington. the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants or the retail, they have nearly doubled over the last five years. cbs 5 reporter tells us that these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season, or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau, there are about 260,000 young adults with college degrees in california, taking work and food service in retail because they can't get anything else. >> it
. >>> president obama is cutting his hawaiian vacation short to get back to fiscal cliff talks in washington. the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a...
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goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal. the dow finished ahead 166. the s&p 500 was up 24. the nasdaq gained 59 another deal not fiscal cliff related. the senate home security committee blasted the state department for failures leading to the deadly september 11th attack on the u.s. mission in benghazi, libya. this comes on the heels of another scathing report by an independent state department accountability review board that we have covered many times. chief intelligence correspondent catherine herridge has the latest senate report sites the white house for president obama inconsistent statements whether the benghazi assault was terrorist attack
goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal....
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Dec 25, 2012
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. >>> lawmakers take their christmas break without resolving the fiscal cliff problems. the millions of dollars in cuts bay area people face if a deal isn't reached. >>> two firefighters respond to a call and get kill bid an excon. why police call it a trap. >>> i am adrianna diaz. ,,,, well, well, well. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad was recording his dumb show then, by george, that's all we watched. and we liked it! today's kids got it so good. [ male announcer ] get u-verse tv with a total home dvr included free for life. only $29 a month for six months. >>> now at 6:30, president obama and speaker john boehner have one last thing to do before the new year, but will they get a deal together in time to avoid the fiscal cliff? as the leaders on capitol hill try to agree, locals say they are prepared to lose billions. >> locals are brace -- brace for the possibility of cuts. here is the story. >> this morning a smili
. >>> lawmakers take their christmas break without resolving the fiscal cliff problems. the millions of dollars in cuts bay area people face if a deal isn't reached. >>> two firefighters respond to a call and get kill bid an excon. why police call it a trap. >>> i am adrianna diaz. ,,,, well, well, well. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording...
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the press as returning to the white house to work i fiscal cliff deal before the year and. without an agreement automatic tax increases for everyone in the spending cuts will be triggered and the new year. an enormous storm system of snow and sleet of the nation's midsection enemies damaging tornadoes are on the deep south has begun putting its way toward the northeast, slowing holiday travel. >> storm tracker for tracking the showers we're seeing an let's resume and these areas. you can see it is at very scattered in this area. the shower is rather berkeley while my creek but they are very light right now. palo alto and east palo alto and the fattal of valley as well use the moderate to heavy rainfall. cupertino, this san rafael, san jose getting a lot of rain this morning. you can see out toward santa clara and downtown san jose looking at very wet conditions. rain coming down up to half an inch an hour but these are fairly fast moving headed to the south east. they will only last a few minutes. this morning scattered showers are likely anyway also experienced some gusty
the press as returning to the white house to work i fiscal cliff deal before the year and. without an agreement automatic tax increases for everyone in the spending cuts will be triggered and the new year. an enormous storm system of snow and sleet of the nation's midsection enemies damaging tornadoes are on the deep south has begun putting its way toward the northeast, slowing holiday travel. >> storm tracker for tracking the showers we're seeing an let's resume and these areas. you can...
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cliff. president obama cut short his hawaii vacation to return to washington. coming up at 5:15 the odds they will be able to come up with a deal were january 1st. >>> the contra costa fire distribution has put together a meeting to discuss the closing of five district stations. they are in clayton, lafayette, martinez. the first meeting is on january 7th in lafayette. we have posted a list of times and locations of those meetings. >>> the brawl that caused wide spread panic in a san francisco mall led to a loss in post christmas sales for business. they ran from the mall when they heard a noise that sounded like gunshots. police arrested three people. all the commotion led to a lock down and likely kept thousands of post christmas shoppers out of the mall. there is no estimate on how much money businesses lost but analyst tell the sacramento breeze it's like -- sacramento bee it's likely a significant amount. >>> janine de la vega is live for us in cupertino this morning. one of the places
cliff. president obama cut short his hawaii vacation to return to washington. coming up at 5:15 the odds they will be able to come up with a deal were january 1st. >>> the contra costa fire distribution has put together a meeting to discuss the closing of five district stations. they are in clayton, lafayette, martinez. the first meeting is on january 7th in lafayette. we have posted a list of times and locations of those meetings. >>> the brawl that caused wide spread panic...
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Dec 28, 2012
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cliff. he cut short his hawaii vacation to return to washington and coming up, signs that president obama maybe reaching out to another republican leader after his negotiations with house speaker john boehner did not result in a deal. >> well, traffic don't in downtown san francisco could grind to a halt. that's because today is the last scheduled critical mass event for the year. for those new to the area, on the last friday of every month, dozens of cyclists ride alightning the waterfront and down market street and drivers are always advised to expect delays. >> peeking of, we haven't really seen any this morning. let's go to tara and see if that changed. >> no, the same story. maybe a lot of folks headed up to the tahoe area. maybe they already left as a matter of fact because the skiing is going to be pretty good up there. right now i want to show you my maps so you can see exactly what i'm talking about up here. the roadways are completely clear and in livermore the same story. overall
cliff. he cut short his hawaii vacation to return to washington and coming up, signs that president obama maybe reaching out to another republican leader after his negotiations with house speaker john boehner did not result in a deal. >> well, traffic don't in downtown san francisco could grind to a halt. that's because today is the last scheduled critical mass event for the year. for those new to the area, on the last friday of every month, dozens of cyclists ride alightning the...
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. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york. thank you. >>> the country has lost one of its great warriors. tributes are pouring in this morning for retired general norman schwarzkopf. the general died yesterday in tampa after a battle with pneumonia. schwarzkopf commanded "operation desert storm" that drove iraqi forces from kuwait. in retirement, he championed causes. norman schwarzkopf was 78. >>> now, to former president george h.w. bush's condition. his chief of staff says he will be in the hospital for a while. the 41st president is recovering from a terrible case of bronchitis with a series of complications. she says that mr. bush is g
. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york....
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but still, not a lot of time to mitigate all the effects of the "fiscal cliff." i'm grace lee, cbs 5. >>> amazingly the stock market didn't step off a cliff. in fact, the dow ended higher today. supposedly based on hope that a deal would be reached. it closed out 2012 with a 7% gain. nasdaq and s&p 500 also ended higher. >>> new details tonight in the murder of a teenaged girl in oakland over the weekend. she has been identified by oakland police as 15-year-old jubrill jordan. she was killed and a 14-year- old boy wounded near 66 and lion yesterday as they walked to a nearby bart station. witnesses say the shooter was also a teenager possibly as young as 13. >> my grand kid come to my house every, single day, kid they like to go to places, to friends' house, they take off though their little friends house and these fools out here killing each other. it's not right. >> the shooting brings oakland's homicide total to 131 for the year a 27% increase from last year. >>> remember all that christmas shopping that you did? good timing. as cbs 5 reporter mike sugerman te
but still, not a lot of time to mitigate all the effects of the "fiscal cliff." i'm grace lee, cbs 5. >>> amazingly the stock market didn't step off a cliff. in fact, the dow ended higher today. supposedly based on hope that a deal would be reached. it closed out 2012 with a 7% gain. nasdaq and s&p 500 also ended higher. >>> new details tonight in the murder of a teenaged girl in oakland over the weekend. she has been identified by oakland police as 15-year-old...
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a deal as that fiscal cliff nears. now just six days until higher taxes for all americans. and tonight, a white house official is placing the burden of not getting a deal on leaders of congress. one official saying the hits from our economy are not coming from outside factors, they're coming from congressional stupidity. some members of congress do return tomorrow. these comments come just as barbara walters prepares for her "nightline" special tonight. her sitdown at the white house with the president and the first lady. tonight here, some rare personal questions answered about their own relationship and their girls. one of whom just got her first cell phone. >> reporter: i want to talk a bit about the girls. we have been rawatching them gr up from little girls to young ladies. now, malia recently got her first cell phone. do you monitor it? and see who she calls or who she texts? >> i give my daughter at this age, i give her a long rope. you know, and there is monitoring, because we have rules, but monitoring may be,
a deal as that fiscal cliff nears. now just six days until higher taxes for all americans. and tonight, a white house official is placing the burden of not getting a deal on leaders of congress. one official saying the hits from our economy are not coming from outside factors, they're coming from congressional stupidity. some members of congress do return tomorrow. these comments come just as barbara walters prepares for her "nightline" special tonight. her sitdown at the white house...
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otherwise, the so-called "fiscal cliff" looms on january 1. that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime. cold temperatures are dipping below freezing now. look at fairfield, that's just dropped to 31 degrees. some people scraping some frost off their windshields this morning. 39 in vallejo. 35 santa rosa. so all that blue tells us it's chilly. and unfortunately by this afternoon, well, i guess it's fortunately if you like the cold weather, but it is going to be slightly cooler today than yesterday. a lot of low 50s. 52 santa rosa. only 50 in fairfield. a little more mild around the bay, 54 in oakland and fremont. as frank just me
otherwise, the so-called "fiscal cliff" looms on january 1. that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this...
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this point to avoid the fiscal cliff? if so, what are they? >> well, obviously, there are cuts in the budget. we know we have to cut some of the mandatory programs and do other cuts, but it has to be accompanied with revenues. willie, i'm getting a little more optimistic today. sometimes it's darkest before the dawn. there are two good signs for optimism today. one is that leader mcconnell is actively engaged. you can't pass anything in the senate without democratic and republican votes because of the 60-vote barrier. we only have 53. for the first time, leader mcconnell is speaking to the president. if the senate is going to be the place where action starts, you need both of them there. the second reason for optimism is boehner is back at the table. because you can't pass something just through the senate. we see what a mess the house is. they couldn't even pass speaker boehner's own plan b. the fact that he's come back and the four of them are at the table means to me we could come up with some kind of agreement that wo
this point to avoid the fiscal cliff? if so, what are they? >> well, obviously, there are cuts in the budget. we know we have to cut some of the mandatory programs and do other cuts, but it has to be accompanied with revenues. willie, i'm getting a little more optimistic today. sometimes it's darkest before the dawn. there are two good signs for optimism today. one is that leader mcconnell is actively engaged. you can't pass anything in the senate without democratic and republican votes...
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her& onpanother on the tax cut. >> congress goes back to work trying to avoid the fiscal cliff. >> how close are we to a deal here? >> we shouldn't be waiting for people to cut deals in back rooms. american people ought to be able to watch the discussion and the debate. >> reporter: a connecticut lawyer is getting heavy criticism because he wants to sue the state over the newtown shooting. >> hello. we didn't do enough. this never should have happened. >>> colts' head coach makes it back to the sidelines three months after being diagnosed with cancer. >> the minute you get the diagnosis, you know, it's like getting hit across the head with a baseball bat. >>> kim kardashian and kanye west are expecting their first child. >> a little shocked. a little surprised. >> if there's no agreement by cliff, economists predict america will go back into a >> we don't want a howard dean sc reamscre. am. >> bungee jumping. >> we might need it. i might then and i might now. >>> i'm norah o'donnell with anthony mason. ch arlichare anlie d gaand yle gaylare e aroff.e off. o'donnell with anthony mason.
her& onpanother on the tax cut. >> congress goes back to work trying to avoid the fiscal cliff. >> how close are we to a deal here? >> we shouldn't be waiting for people to cut deals in back rooms. american people ought to be able to watch the discussion and the debate. >> reporter: a connecticut lawyer is getting heavy criticism because he wants to sue the state over the newtown shooting. >> hello. we didn't do enough. this never should have happened....
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. >>> the nation is now just 24 hours away from going over the fiscal cliff. the one-two punch of tax increases and budget cuts set to go into affect on january 1st. negotiations will continue through the night, and a top man at the nation's capital has been called in to help. our abc news reporter has the latest from washington. >> the clock is ticking. negotiations are on going. at this point democrats and republicans remain at odds. >> regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do thought go up that would hurt our economy badly. we can get that done. >> president obama called for immediate action, but there was that vote in the senate tonight. >> we are going to come in at 11:00 a.m. tomorrow morning, and we will have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> mitch mcconnell frustrated with the lack of progress called vice president biden in for help. biden is now said to be playing a direct role. >> there is no single issue that remains an impossible s
. >>> the nation is now just 24 hours away from going over the fiscal cliff. the one-two punch of tax increases and budget cuts set to go into affect on january 1st. negotiations will continue through the night, and a top man at the nation's capital has been called in to help. our abc news reporter has the latest from washington. >> the clock is ticking. negotiations are on going. at this point democrats and republicans remain at odds. >> regardless of partisan differences,...
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cliff." >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush-era tax cuts for families making $450,000 a year and individuals making $400,000. it would also increase the taxes on estates worth more than $5 million and extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is spending. the president suggested lawmakers make action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm
cliff." >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush-era tax cuts for families making $450,000 a year and individuals making $400,000. it would also increase the taxes on estates worth more than $5 million and extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >>...
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president obama and congressional leaders cut their vacations short, to deal with fiscal cliff negotiations. they have five days to make a deal. and housing continues to be the bright spot in the u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues.
president obama and congressional leaders cut their vacations short, to deal with fiscal cliff negotiations. they have five days to make a deal. and housing continues to be the bright spot in the u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues.
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cliff. the president again today called on lawmakers to act before taxes automatically go up for every american and spending cuts kick in. but republicans aren't happy with the proposal the white house is offering. so on a saturday night, washington is still at a stalemate and the public is pretty clearly growing frustrated. david gregory sat down exclusively with the president today. he'll share some insight in just a moment. first we go to nbc's kristen welker at the white house on a where the talks stand. >> reporter: good evening. sources close to the talks say there is more pessimism tonight with democrats and republicans still unable to reach a compromise, particularly over the issue of taxes. but senate negotiators aren't giving up. they're still hopeful for a breakthrough before that all important tuesday deadline. with time running out, key staffers huddled behind closed doors against the backdrop of a snowy capitol trying to hammer out a last-minute deal. in his weekly address, pre
cliff. the president again today called on lawmakers to act before taxes automatically go up for every american and spending cuts kick in. but republicans aren't happy with the proposal the white house is offering. so on a saturday night, washington is still at a stalemate and the public is pretty clearly growing frustrated. david gregory sat down exclusively with the president today. he'll share some insight in just a moment. first we go to nbc's kristen welker at the white house on a where...
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only eight days left until america goes off the fiscal cliff. both sides are taking a holiday break, and all we're getting is the blame game. some republicans suggesting that the doomsday scenario that's now unfolding is all part of a white house plan. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at thement bot of the cliff. he gets all this additional tax revenue for new program. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> white house correspondent breanna keilar has the envy of all assignments of traveling with the president and joins us live from honolulu, hawaii, this morning. breanna, good morning to you. >> reporter: good morning to you, alina. the bottom line here, beginning this week, is that substantive conversations between democrats and republicans are basically nonexistent. the white house and senate democrats are not in communication not only with house re
only eight days left until america goes off the fiscal cliff. both sides are taking a holiday break, and all we're getting is the blame game. some republicans suggesting that the doomsday scenario that's now unfolding is all part of a white house plan. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at thement bot of the cliff. he gets all this additional tax revenue for new program. he gets...
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he cut his hawaiian vacation short to get back to the white house for any possible last minute fiscal cliff meetings and it appears there will be one tomorrow. harris? >> well, what kind of response is the president getting from lawmakers at this point? >> well, senate republicans say they are willing to listen to any ideas the president has as to how to find a way forward. here is more. >> last night i told the president we would be happy to look at whatever he proposes. but the truth is we are coming up against a hard deadline here. and as i said, this is a conversation we should have is had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> the senate is in session and this is the first time either the house or senate has been in session for legislative business between christmas and new year's since 1970. harris? >> harris: not to put too fine a point on, it i guess it is politics, i don't know. saw what looks like a bit of taunting teen the top senate democrat and th
he cut his hawaiian vacation short to get back to the white house for any possible last minute fiscal cliff meetings and it appears there will be one tomorrow. harris? >> well, what kind of response is the president getting from lawmakers at this point? >> well, senate republicans say they are willing to listen to any ideas the president has as to how to find a way forward. here is more. >> last night i told the president we would be happy to look at whatever he proposes. but...
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and they can try once again to negotiate a deal to avoid the fiscal cliff by the end of the year. just about every american family will see their taxes increase on january 1 unless a deal is reached. but lawmakers are expressing very little optimism so far. meantime, the president spent christmas in hawaii, visiting a local marine base, thanking more than 100 troops and their families for their service. >>> and this morning, the taliban is claiming responsibility for a suicide bombing at a major u.s. base in eastern afghanistan. three afghans, including a guard at camp chatman were killed in today's explosion. >>> and back here at home, former major league baseball player andruw jones is free on bond this morning. he was arrested near atlanta early christmas morning on a battery charge, after police responded to a call about a domestic dispute with his wife. >>> and netflix, they are apologizing for a christmas outage in its video streaming service. yes, it happened on christmas, a little untimely. it took ten hours to resolve the problem, which affected subscribers across the cou
and they can try once again to negotiate a deal to avoid the fiscal cliff by the end of the year. just about every american family will see their taxes increase on january 1 unless a deal is reached. but lawmakers are expressing very little optimism so far. meantime, the president spent christmas in hawaii, visiting a local marine base, thanking more than 100 troops and their families for their service. >>> and this morning, the taliban is claiming responsibility for a suicide bombing...
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. >>> this morning, both sides, now, looming, four days from the fiscal cliff. everybody's taxes will be going up if we go over it. drastic budget cuts will be going into effect. and leaders in washington have agreed to talk there's a meeting scheduled this afternoon at the white house. abc's chief white house correspondent, jonathan karl, joins us now to tell us what we can expect today. both sides agreeing to meet. we want to take a listen to sound from both sides. the looks of things, no one may be getting too far down the road. first, let's listen to what senate minority leader mitch mcconnell said yesterday on the senate floor. >> i told the president we'd be happy to look at what he proposes. but the truth is, we're coming up against a hard deadline here. and republicans aren't going to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> meanwhile, the senate majority leader, now, had even harsher words for gop leadership. >> the house of representatives is operating out the house of rep
. >>> this morning, both sides, now, looming, four days from the fiscal cliff. everybody's taxes will be going up if we go over it. drastic budget cuts will be going into effect. and leaders in washington have agreed to talk there's a meeting scheduled this afternoon at the white house. abc's chief white house correspondent, jonathan karl, joins us now to tell us what we can expect today. both sides agreeing to meet. we want to take a listen to sound from both sides. the looks of...
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also this half hour, the crucial final countdown to the fiscal cliff. now all eyes are on the power brokers meeting face to face today, with one question -- can they cut a deal in time? >>> also, the nfl coach whose toughest fight is not on the football field, but battling cancer. the indianapolis colts' head coach, chuck pagano, opens up about returning to his team just in time for the playoffs. and a lot of people have just been cheering him on the whole way. >> a great story. you'll want to stick around for that. >>> later, bette midler and billy crystal. the project that got these two beloved stars to work together after so many years. >> great movie, we're told. they play grandparents. >>> but first, there is no rest for the weary. the killer winter storm finally behind us, but don't put away your snow shovels just yet. >> that storm system that blasted the midwest, south and northeast has claimed at least 16 lives. now we're bracing for another round of snow. the news that you they not want to hear. our coverage begins. >> reporter: this surveilla
also this half hour, the crucial final countdown to the fiscal cliff. now all eyes are on the power brokers meeting face to face today, with one question -- can they cut a deal in time? >>> also, the nfl coach whose toughest fight is not on the football field, but battling cancer. the indianapolis colts' head coach, chuck pagano, opens up about returning to his team just in time for the playoffs. and a lot of people have just been cheering him on the whole way. >> a great story....
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. >> congress cutting it close to avid the fiscal cliff. nation back into another recession, today, name calling picked up. boehner for letting lawmaker goes on vacation. house members not due back ununtil sunday. that is two days before the tax increases take affect. boehner is putting the ball in the court and says the house will take action on whatever the senate can pass. the president has spoken to senate and house leaders from both parties but had no plans to meet with congressional leaders tonight or tomorrow. >> three people have filed a federal lawsuit against city of san francisco arks kusing the police department of conducting illegal searches. this occurred at the henry hotel. saying police officers entered room was a master key provided by the hotel, then, began searching through personal belongings without warrants or just cause. thist@2p is camera footage of te searches by public defender last year. the suit filed by civil rights attorney john buress naming four officers. >> a slew of new laws set to hit the books january 1 f
. >> congress cutting it close to avid the fiscal cliff. nation back into another recession, today, name calling picked up. boehner for letting lawmaker goes on vacation. house members not due back ununtil sunday. that is two days before the tax increases take affect. boehner is putting the ball in the court and says the house will take action on whatever the senate can pass. the president has spoken to senate and house leaders from both parties but had no plans to meet with congressional...
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cliff" forces president obama to cut his christmas vacation short. i'm erica ferrari in new york. i'll have that and more coming up in your cbsmoneywatch report. >>> and what's cool about your school? you can submit your nomination on our website, cbssf.com/coolschool. we may come and feature school right here on our show. ,,,,,,,,,,,,,,,, [ boy 1 ] hey! that's the last crescent. oh, did you want it? yea we'll split it. [ female announcer ] made fresh, so light, buttery and flakey. that's half that's not half! guys, i have more! thanks mom [ female announcer ] pillsbury crescents. let the making begin [ female announcer ] holiday cookies are a big job. everything has to be just right. perfection is in the details. ♪ get to holiday fun faster >>> welcome back! here's your cbs 5 snow report: basketball team is spending holiday season in hawai'i. much more traffic and weather coming up. >>> one local college basketball team is spending the holiday season in hawaii the university of san francisco taking on the east tennessee state on christmas day in t
cliff" forces president obama to cut his christmas vacation short. i'm erica ferrari in new york. i'll have that and more coming up in your cbsmoneywatch report. >>> and what's cool about your school? you can submit your nomination on our website, cbssf.com/coolschool. we may come and feature school right here on our show. ,,,,,,,,,,,,,,,, [ boy 1 ] hey! that's the last crescent. oh, did you want it? yea we'll split it. [ female announcer ] made fresh, so light, buttery and...
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if we're going to cut the size and scope of government perhaps we should go over the fiscal cliff so people will understand government spending is out of control and may start to ask questions being asked at the kitchen tables of every family, why we see christmas sales so low. they're saying how do we make major purchases? people are cutting back in personal lives, they want got to do the same. something else is playing into christmas sales being low. christmas itself is under attack. a lot of christian conservatives believe that if we're going to say happy holiday, perhaps those that think it's any other holiday should support the economy and they're not buying the gifts they used to buy. they do christian efforts locally in churches and talk to families about other things than gifts. >> we always say merry christmas here but stay on this here. if we do go over the fiscal cliff, yes, taxes will go up. molly outlined how much for every income level across the board. >> very hard. >> down the road, isn't it the only way we get our fiscal house back in order? >> that's what i'm hearin
if we're going to cut the size and scope of government perhaps we should go over the fiscal cliff so people will understand government spending is out of control and may start to ask questions being asked at the kitchen tables of every family, why we see christmas sales so low. they're saying how do we make major purchases? people are cutting back in personal lives, they want got to do the same. something else is playing into christmas sales being low. christmas itself is under attack. a lot of...
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if it does go to the fiscal cliff and we go over it, sequestration would cut only $109 billion next year. that is actually not a lot in a budget of almost four trillion, is it? >> it's not a lot of the total number, half of that goes to defense which are own admirals and generals have said and secretary of defense would be devastating. this comes on top of -- $50 billion in one year to the defense. and it doesn't touch at all medicare and the other entitlement programs. >> gregg: biggest drivers and cost and absolutely nothing has been done about those things? >> it's criminal. she is things are going to destroy us. we can live with higher taxes, you might not think it's the best idea on the rich. i think it's a way to go about it but we can't survive we are without adjusting our entitlement reform unless it is addressed. >> gregg: jamie weinstein, it's criminal -- i didn't take it that far but you do did. >> without a fiscal cliff teal the pentagon is bracing for $500 billion but that is over the next decade and raises questions how military leaders plan to keep the nation safe. >> last
if it does go to the fiscal cliff and we go over it, sequestration would cut only $109 billion next year. that is actually not a lot in a budget of almost four trillion, is it? >> it's not a lot of the total number, half of that goes to defense which are own admirals and generals have said and secretary of defense would be devastating. this comes on top of -- $50 billion in one year to the defense. and it doesn't touch at all medicare and the other entitlement programs. >> gregg:...
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. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking about how to retroactively avoid going off the fiscal cliff on a new congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up any odd jobs as much as she can. >> it's been discouraging. i come in here thre
. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking...
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as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p 500 climbed 13. the nasdaq has jumped 16%. >>> reports are due this week on pending home sales. sales of new homes and a look at home prices in the nation's 20 largest cities. >>> are you still not sure what to get for the person who has everything? new retail nbers show footwear was the fifth most popular gift on shoppers' lists on black friday. a year ago, shoes didn't even make it into the top ten gifts for the season. >>> good news for hollywood. attendance by moviegoers is up more than 5.5% so far this year. ticket revenue is projected to jump by 6% by the end of 2012 which would be the industry's biggest y
as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p...
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Dec 25, 2012
12/12
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KGO
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news about the fiscal cliff has not been good with the president and congress far apart. if they can't agree on a budget plan by january 1st, government spending cuts will increase automatically. market watchers worry that it will put the country into a recession. >> dan: annual toy drive is in full swing. there are not enough toys so far. so a plea is going out to lefty o'doul's at union square. that is where tomas ramon is live with the story tonight. >> reporter: i seek behind me there are firefighters here, they are collecting toys that people are driving by and dropping off. they collected 4600 toys so far. it's far less than 15,000 they were hoping to collect so they are asking people if they can't want to give a toy for christmas drive by and drop off a gift. six-year-old jordan young has new toy cars for christmas. he is one of three dozen children who are getting gifts early. 8-year-old appreciate yachts what is being done for her neighbors. >> it is great especially the kids that don't have things. >> reporter: parents are appreciative as well especially after s
news about the fiscal cliff has not been good with the president and congress far apart. if they can't agree on a budget plan by january 1st, government spending cuts will increase automatically. market watchers worry that it will put the country into a recession. >> dan: annual toy drive is in full swing. there are not enough toys so far. so a plea is going out to lefty o'doul's at union square. that is where tomas ramon is live with the story tonight. >> reporter: i seek behind me...
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Dec 27, 2012
12/12
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KPIX
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but the only people who can avert the fiscal cliff, members of the house and senate, have not returned. in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts and new taxes will push the economy back into a mild recession by mid 2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1. that's because the irs and other agencies didn't expect it to come to this. so it could be a few weeks before workers see more money being withheld in their paychecks. cbs news in hawaii. >>> former president george h.w. bush is in intensive care at a hospital in houston. a fever that kept mr. bush in the hospital over christmas h
but the only people who can avert the fiscal cliff, members of the house and senate, have not returned. in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for...
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Dec 30, 2012
12/12
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FOXNEWSW
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i understand even if they reach a deal on the fiscal cliff, there are already defense cuts that will hurt anyway. >> that's right. those decisions have been made. what's so disappointing about this deal being constructed here, and hopefully there is one, is the fact sequestration is not on the table. that is going to take place anyway. we look at the readiness of our forces and readiness is a word that describes the preparedness to fight effectively and that he is what americans should remember. we look at one, do we have the people, and are they qualified with the appropriate skill sets, enlisted and officer. do we have the repair parts and maintenance hours to fix the equipment that we have and then are we able to train effectively with that with the amount of hours and time needed to do that. all of that would be cut back significantly, so the readiness of this force, its ability to fight is what i'm saying, would go down markedly. and also there's going to be significant morale impact to the force because all of the services on bases would be cut to include repair and maintenance
i understand even if they reach a deal on the fiscal cliff, there are already defense cuts that will hurt anyway. >> that's right. those decisions have been made. what's so disappointing about this deal being constructed here, and hopefully there is one, is the fact sequestration is not on the table. that is going to take place anyway. we look at the readiness of our forces and readiness is a word that describes the preparedness to fight effectively and that he is what americans should...
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Dec 24, 2012
12/12
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FOXNEWSW
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that is a great new year's resolution. >> there are lots of cuts if we go off the fiscal cliff. lack of unity and vision there --. gregg: talking about this in the last hour, mark. but i want to put it to you. the president campaigned. he said i want to raise rates on everybody who make over 250. and you do the math and it's been done by all kinds of economists and cbo. >> many people voted for that. gregg: comes to $800 billion mark. so suddenly the president's reelected and immediately doubles it, now i want 1.6 trillion. >> psych, sorry. we'll change rules because i won. crossing my fingers behind my back. changed the rules. gregg: go ahead, mark. how do you figure that the president, you know, said i want 800 billion. now all of sudden i want twice that much. >> the president said that refering to income taxes the now that we're facing sort of debt problem that we're facing, the president is getting serious about other types of revenue, including loopholes. loopholes many wealthy americans benefit from and middle class americans don't have advantage of benefiting from. a lot
that is a great new year's resolution. >> there are lots of cuts if we go off the fiscal cliff. lack of unity and vision there --. gregg: talking about this in the last hour, mark. but i want to put it to you. the president campaigned. he said i want to raise rates on everybody who make over 250. and you do the math and it's been done by all kinds of economists and cbo. >> many people voted for that. gregg: comes to $800 billion mark. so suddenly the president's reelected and...
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Dec 28, 2012
12/12
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MSNBCW
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i don't think the fiscal cliff problem hit social security or medicare right away. they kind of sealed that off from se questions ration. but you mentioned unemployment before. there are a variety of other government programs that will be drastically cut back on tuesday morning if we don't get some kind of a deal by monday night. >> you know, ryan, when you look at -- when clarence was talking,ives looking and i think i have it. bills that republicans and congress have blocked this year. a bill that would have increased the minimum wage, a buffet rule bill, the employment, nondis crimination act that would have prohibited hiring people on the basis of sexual orientation. a u.n. treaty to protect the rights of disabled people around the world and the paycheck famous act so that women don't get paid less than men for doing the same job. i mean, there's been a variety of bills that they have seen not go past. they have actually stopped in a variety of ways that would have helped the american people. >> yeah, and you can throw the violence against women act, reauthoriza
i don't think the fiscal cliff problem hit social security or medicare right away. they kind of sealed that off from se questions ration. but you mentioned unemployment before. there are a variety of other government programs that will be drastically cut back on tuesday morning if we don't get some kind of a deal by monday night. >> you know, ryan, when you look at -- when clarence was talking,ives looking and i think i have it. bills that republicans and congress have blocked this year....
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Dec 28, 2012
12/12
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KTVU
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cliff. the president arrived in washington today cutting short his hawaii vacation. he called congressional leaders last night and today house speaker john boehner said the house will convene on sunday leaving less than 48 hours to come up with a deal. >> it's the count down to midnight. the start of a new year. but this year president, the american people are waiting for the ball to drop but it's not going a good drop. >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> off the senate floor, mitch mcconnell appears to be more flexible. the senator sent an e-mail suggesting he's negotiating an acceptable deal with the white house. >>> stocks rebounded today on news that the house would reconvene on the fiscal cliff after diving more than 150 points the dow bounced back to lose only 18 points. it was the fourth straight day of losses. >> i don't know there's a word to describe how -- the publi
cliff. the president arrived in washington today cutting short his hawaii vacation. he called congressional leaders last night and today house speaker john boehner said the house will convene on sunday leaving less than 48 hours to come up with a deal. >> it's the count down to midnight. the start of a new year. but this year president, the american people are waiting for the ball to drop but it's not going a good drop. >> republicans aren't about to write a blank check for anything...
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Dec 26, 2012
12/12
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KRON
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the president is returning to the white house to work on a fiscal cliff deal before the europeans. house and senate members are expected to reconvene on thursday. without an agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. >> we will be right back. >> for the rest of today we are looking for showers. tomorrow there will be lots of sun shine. satellite and radar shows a there will be a big storm for the mountains. right now most of the showers are starting to decrease. futurecast 4 shows that some showers will be in the south bay but that will be scattered. by the late afternoon we may see sunshine as we start to clear out the skies. the sierra forecast shows a they have a winter storm advisor. they are expected to receive three to 6 in. of snow. this is great news for snow boarders and skiers. >> the highs for today will be in the mid '50s for oakland and the east bay. it will be 53 degrees for downtown san francisco. here is a look at your 7 day around the bay forecast. decreasing clouds for the afternoon and may be a bit br
the president is returning to the white house to work on a fiscal cliff deal before the europeans. house and senate members are expected to reconvene on thursday. without an agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. >> we will be right back. >> for the rest of today we are looking for showers. tomorrow there will be lots of sun shine. satellite and radar shows a there will be a big storm for the mountains. right now...